Thursday, February 05, 2009

City sitting on nearly 1 billion in cash, also has nearly 1 billion in net assets

If you look at the KPMG annual auditing report on page 19 you will see that we have nearly one billion dollars in cash on hand, about two billion in liabilities, and two billion in other assets. This leaves us about 1 billion in the black. No wonder the Mayor feels comfortable in giving away land for free. Not sure why he feels comfortable cutting the school budget.


Rob said...

Kevin, there's no way your analysis is accurate here. A poster on UHub already broke it down. Further, explain why in the world Menino would sit on this hypothetical billion dollars and push for unpopular service cuts and tax hikes instead of spending it, in an election season. Makes no sense.

opencourts said...

Interesting, I have spoken at City Council before and seem to recall that there is no ability to speak generally on off-agenda items of your choice.

Perhaps you could tell us the next time there will be an opportunity for common folk to address the councilors on the matters of school funding/budget?

Thank you.